Wednesday, May 31, 2017
Stock dividends
Stock dividends are shares received in lieu of cash. They are booked with no cost attached (received free).
Tuesday, April 18, 2017
Corporate Actions
In a normal Corporate Action when there is a cash received we book
it as an Return Of Capital and transfer the rest of the cost to new positions.
Case: Bond defaulted and company agreed to restructuring with creditors. Creditors received cash and equity shares i.e. bond to stock conversion
In the case it is a bond to stock conversion, it doesn’t make sense to transfer all the cost of the bond to the stock. The company paid cash to all the bond holders for settlement. One option is to sell the bond for the cash received (triggering a realized event) and then purchase the new securities for the amount paid for them and then mark them at market.
Case: Bond defaulted and company agreed to restructuring with creditors. Creditors received cash and equity shares i.e. bond to stock conversion
In the case it is a bond to stock conversion, it doesn’t make sense to transfer all the cost of the bond to the stock. The company paid cash to all the bond holders for settlement. One option is to sell the bond for the cash received (triggering a realized event) and then purchase the new securities for the amount paid for them and then mark them at market.
Thursday, January 19, 2017
Saturday, January 14, 2017
Wednesday, November 16, 2016
Bloomberg
to find the tags to pull into excel (provided you have access to open Bloomberg, which requires a special licence):
go to FLDS, then type the item you want the tag for
e.g if you want to find the tag to pull GICS, then go to FLDS and search for GICS.
go to FLDS, then type the item you want the tag for
e.g if you want to find the tag to pull GICS, then go to FLDS and search for GICS.
Classification of investments for financial statement purposes
GICS -
From:
http://www.investopedia.com/terms/g/gics.asp
The Global Industry Classification Standard (GICS) is a standardized classification system for equities developed jointly by Morgan Stanley Capital International (MSCI) and Standard & Poor's. The GICS methodology is used by the MSCI indexes, which include domestic and international stocks, as well as by a large portion of the professional investment management community.
The GICS hierarchy begins with 10 sectors and is followed by 24 industry groups, 67 industries and 147 sub-industries. Each stock that is classified will have a coding at all four of these levels.
The main goal of GICS is to allow all market participants to classify stocks by standardized industry definitions. GICS is used to make portfolio diversification and overall asset allocation decisions from within a common framework.
GICS competes with the Industry Classification Benchmark (ICB) system, which is maintained by Dow Jones and London's FTSE Group. In practice, most of the same sector and industry designations exist in both standards.
here is the website of MSCI who owns GICS:
https://www.msci.com/gics
Some more info:
http://www.unm.edu/~maj/Security%20Analysis/GICS.pdf
GICS structure effective 09/01/2016:
https://www.msci.com/documents/10199/248121/Revisions+to+GICS+Structure+in+2016/cfded0bf-18bc-46d9-9053-ce22ef287481
Wikipedia:
https://en.wikipedia.org/wiki/Global_Industry_Classification_Standard
you can get it from Bloomberg too.
CCB <Go>
to pull into excel, go to FLDS and then type GICS
Distinguishing Between Classification and Product
11. What's the difference between GICS and GICS DirectSM? GICS is the classification structure and methodology. GICS Direct is a joint product of MSCI and Standard & Poor’s that provides more than 26,000 active company classifications and over 29,000 securities, which represents approximately 95% of the world’s equity market capitalization.
Pricing
12. How do you charge for GICS Direct? GICS Dir
From:
http://www.investopedia.com/terms/g/gics.asp
The Global Industry Classification Standard (GICS) is a standardized classification system for equities developed jointly by Morgan Stanley Capital International (MSCI) and Standard & Poor's. The GICS methodology is used by the MSCI indexes, which include domestic and international stocks, as well as by a large portion of the professional investment management community.
The GICS hierarchy begins with 10 sectors and is followed by 24 industry groups, 67 industries and 147 sub-industries. Each stock that is classified will have a coding at all four of these levels.
The main goal of GICS is to allow all market participants to classify stocks by standardized industry definitions. GICS is used to make portfolio diversification and overall asset allocation decisions from within a common framework.
GICS competes with the Industry Classification Benchmark (ICB) system, which is maintained by Dow Jones and London's FTSE Group. In practice, most of the same sector and industry designations exist in both standards.
here is the website of MSCI who owns GICS:
https://www.msci.com/gics
Some more info:
http://www.unm.edu/~maj/Security%20Analysis/GICS.pdf
GICS structure effective 09/01/2016:
https://www.msci.com/documents/10199/248121/Revisions+to+GICS+Structure+in+2016/cfded0bf-18bc-46d9-9053-ce22ef287481
Wikipedia:
https://en.wikipedia.org/wiki/Global_Industry_Classification_Standard
you can get it from Bloomberg too.
CCB <Go>
to pull into excel, go to FLDS and then type GICS
Distinguishing Between Classification and Product
11. What's the difference between GICS and GICS DirectSM? GICS is the classification structure and methodology. GICS Direct is a joint product of MSCI and Standard & Poor’s that provides more than 26,000 active company classifications and over 29,000 securities, which represents approximately 95% of the world’s equity market capitalization.
Pricing
12. How do you charge for GICS Direct? GICS Dir
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